Which of the following is NOT true about the gamma of a stock option?

A long position in either a call or a put has a positive gamma

A big positive value for gamma indicates that a big movement in the asset price in either direction will lead to a loss

The magnitude of gamma is a measure of the curvature of the portfolio value as a function of the underlying asset price

A highly positive or highly negative value of gamma indicates that a portfolio needs frequent rebalancing to stay delta neutral